What Can Rule the Roost in January 2023?
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
China's January-February industrial revenue surge is firm, but pace speeds down from 2017
For the first two months of 2018 from December revenues at China's industrial companies picked up pace, although still lagging surge for the whole of the previous year, thus supporting hopes that the world's number two economy is braced for cooling as the Chinese government cracks down on debt risks.
Speeding down earnings surge, following a six-year maximum in 2017, could heavily affect investment and put extra pressure on China's stock markets that have taken a knock in recent trading sessions on ascending worries of a trade conflict with America.
Weaker revenues could also complicate China’s campaign to diminish huge debt generated by its state-owned companies, dominating its heavy industries.
Industrial revenues rallied 16.1% year-on-year hitting 968.9 billion Yuan for the first two months of 2018, as the National Bureau of Statistics reported on Tuesday.
Surge managed to pick up from December mostly because of quickened sales with everlasting cost-cutting efforts, offsetting weaker prices. That’s what He Ping of the statistics bureau revealed in a statement.
The Chinese authorities issued combined January as well as February figures with the aim of smoothing out distortions provoked by the week-long Lunar New Year that started in mid-February in 2018 but late January in 2017.
Firm global demand also brought benefits to the country’s exporters, although quickly escalating trade tensions with America are actually clouding the outlook for a repeat performance in 2018.
Pointing to further revenue pressure, the country’s steel futures prices have headed south to their lowest value eight months on worries of an all-out global trade conflict as well as fears as for declining demand at home because the heated property market demonstrates obvious signs of cooling.
Revenues at the country’s state-owned industrial companies tacked on 29.6% in January-February from 2017, speeding down from a 45.1% jump last year.
Similar
USD Holds the Line
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Apple is Under Pressure
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
Latest news
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
Investor Positivity May Fade After Powell's Speech and CPI Release
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
